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Exactly. Great point too up above too, Ginger. It's like my situation: While I serve in the Marines I generally move every 3 or 4 years. I thought of buying a home, but at the present time I lack a significant 20% down payment and can't totally afford a home once I'd pay for all the extra expenses, so I DON'T BUY ONE.

I'm so sick and tired of these crybabies who got "screwed" in the subprime deals. My heart goes out to the victims that were taken advantage of, because some CLEARLY were, but for the most part it was just greedy fools who thought they could "flip" a bunch of houses. It's like that stupid Laura Richardson, and the sympathy she tries to get over losing her HOMES. That's home with an S, as in plural. I'm christian to the core, but I'd love to see an idiot congresswoman stuck in a homeless shelter over being just fat and greedy:D

I saw on TV the other day that because of fuel costs, simple commodities in Hawaii have skyrocketed in price. They showed a gallon of OJ on the shelf for $10.15. My God. If OJ is over $10 a gallon, how does anyone afford to live there, much less buy a home? You're there on the American Plan and obviously you have no choice.

I was in Amsterdam last week. With fuel prices through the roof and a dollar fetching .57 Euros, I can appreciate your pain. It ain't pretty.

I saw on TV the other day that because of fuel costs, simple commodities in Hawaii have skyrocketed in price. They showed a gallon of OJ on the shelf for $10.15. My God. If OJ is over $10 a gallon, how does anyone afford to live there, much less buy a home? You're there on the American Plan and obviously you have no choice.

I was in Amsterdam last week. With fuel prices through the roof and a dollar fetching .57 Euros, I can appreciate your pain. It ain't pretty.

I haven't seen OJ at 10.15 prices, mainly I think because I only shop at the Military Commisaries which are much cheaper. I do know that prices at grocery stores out in town are incredibly inflated. For instance, milk is around 3.50 a gallon on the military base, but over 6 dollars a gallon out in town.

All these dire economic predictions and yet.... The roads are still as crowded as they have ever been. The lines at Wal Mart are just as long. Post Office waiting time hasn't changed, still plenty of Ebay sellers with multitudes of packages and I still always manage to get stuck behind one. Theme parks and sporting events are still packed to the brim. Bottled water is still flying off the shelves and it's a lot pricier than petrol. Yep, it seems the word hasn't gone out widely enough, DU isn't doing a very good job, they're not panicking enough people.

March 2008 saw “the sharpest yearly drop for any month in FHWA history” of total vehicle miles traveled (aka VMT) according to the Federal Highway Administration’s monthly report on “Traffic Volume Trends.
...
”

Originally Posted by Lager

The lines at Wal Mart are just as long.

And the lines will get longer and longer as more people are only able to afford the crap they sell at WalMart.

Originally Posted by Lager

Post Office waiting time hasn't changed, still plenty of Ebay sellers with multitudes of packages and I still always manage to get stuck behind one.

Given the total incompetence of postal workers, the waiting times wouldn't change if they saw a 50% decrease in customers.

The Walt Disney Co.'s Central Florida theme parks could see sharp declines in attendance this fall as airlines eliminate more than 5,700 seats per day on flights to Orlando due to soaring fuel prices.

The reason: 35 percent of visitors to Walt Disney World travel to Orlando on domestic flights, says a report by Pali Capital Research Managing Director Richard Greenfield.
...

Originally Posted by Lager

Bottled water is still flying off the shelves and it's a lot pricier than petrol.

This one is correct, albeit not particularly relevant.

Originally Posted by Lager

Yep, it seems the word hasn't gone out widely enough, DU isn't doing a very good job, they're not panicking enough people.

The Bush administration's purposeful postponement of the 2000 recession and the economic effects of 9/11 is now significantly impacting business in the US. And it will continue to worsen until we take effective steps -- not token gestures like suspending the federal gas tax -- to address the underlying issues: the weakness of the dollar, the globalization of markets, and the use of alternative energy sources.

All these dire economic predictions and yet.... The roads are still as crowded as they have ever been. The lines at Wal Mart are just as long. Post Office waiting time hasn't changed, still plenty of Ebay sellers with multitudes of packages and I still always manage to get stuck behind one. Theme parks and sporting events are still packed to the brim. Bottled water is still flying off the shelves and it's a lot pricier than petrol. Yep, it seems the word hasn't gone out widely enough, DU isn't doing a very good job, they're not panicking enough people.

It is an election year; so the liberal media is out in full force trying to get Obama elected with all the doom and gloom. An AP business reporter stated that economic conditions were as bad as they were in the 80's when the peanut farmer was Prez. I say that is an unmitigated damn lie.

How about for once these sorry pricks print the good news in comparison to how things were 30 odd years ago like:

1. Unemployment is lower
2. Jobs are plentiful
2. Interest rates for homes are 12% lower
3. Productivity is up
4. Exports are up

Yea, yea, yea. I know that gasoline is high--we have the housing mess and the dollar is going south but it sure as hell not as bad as these pessimists make it out to be.

We need a little pain in our lives; everything is not going to come up roses. People need to plan for financial stability, save for a rainy day and expect the unexpected. As far as I am concerned, this is just a bump in the road.

March 2008 saw “the sharpest yearly drop for any month in FHWA history” of total vehicle miles traveled (aka VMT) according to the Federal Highway Administration’s monthly report on “Traffic Volume Trends.

I don't doubt that there is some drop off, certainly not noticing it on the streets out here in the West. But I will lay odds that this down turn comes after record setting recent years. Until this recent spike, you've got to admit we've been blessed with relatively cheap gasoline.

And the lines will get longer and longer as more people are only able to afford the crap they sell at WalMart.

But it's the fact that people are still buying the crap. Buying crap would be the first activity they jettison in truly dire times.

Given the total incompetence of postal workers, the waiting times wouldn't change if they saw a 50% decrease in customers.

Can't argue with that. That's what you get with government jobs and unions.

The Walt Disney Co.'s Central Florida theme parks could see sharp declines in attendance this fall as airlines eliminate more than 5,700 seats per day on flights to Orlando due to soaring fuel prices.

The cheap American dollar should attract a multitude of foreign visitors, easing the effect of any domestic drop off.

We've just gone through a sustained period of outstanding economic growth. There's no way a rate like that could proceed unabated. Some of the problems we're facing may actually be a result of that growth. False optimism, irrational exuberance.

Housing prices grew to such an inflated level, that they had to normalize eventually. Encouraging cheap credit to fix the economic problems caused by 9/11 seems in hindsight to have caused its own set of dilemmas. The value of the dollar is worrisome and yes Bush didn't handle the economy all that well besides cutting taxes, especially capital gains.

You may disagree, but I think we will weather this alright in the end, and it will cause adjustments that will benefit us in the long run. One thing that came out recently is the possibility of high transportation costs leading to the reversal of shipping manufacturing jobs overseas. It may become more cost effective -- even taking into consideration cheap labor -- to make stuff here in the good ole USA again.

Well, if everything were in control, I wouldn't know what what was going on.

Originally Posted by Lager

All these dire economic predictions and yet.... The roads are still as crowded as they have ever been. The lines at Wal Mart are just as long. Post Office waiting time hasn't changed, still plenty of Ebay sellers with multitudes of packages and I still always manage to get stuck behind one. Theme parks and sporting events are still packed to the brim. Bottled water is still flying off the shelves and it's a lot pricier than petrol. Yep, it seems the word hasn't gone out widely enough, DU isn't doing a very good job, they're not panicking enough people.

My father in law makes him primary living off EBay. He's a retired police officer who sells retired police and radio equipment. He's about to lose his house if HAM radioers and small town police departments don't start spending again soon.

My father is a former contractor turned real estate appraiser/inspector. He's in dire straights right now. The construction industry is in really, really bad shape here in AZ. Everyone I know who works construction, and I know a lot from working with my father, is up the proverbial creek without a paddle.

So things certainly aren't just peachy. Other industries, like my industry, aren't as effected though and I'm still making the same amount with no slowdown in my companies sales. Things will likely get better for the affected industries, but there will be casualties, more foreclosures, and more inflation before that happens.

The cheap American dollar should attract a multitude of foreign visitors, easing the effect of any domestic drop off.

We've just gone through a sustained period of outstanding economic growth. There's no way a rate like that could proceed unabated. Some of the problems we're facing may actually be a result of that growth. False optimism, irrational exuberance.

Housing prices grew to such an inflated level, that they had to normalize eventually. Encouraging cheap credit to fix the economic problems caused by 9/11 seems in hindsight to have caused its own set of dilemmas. The value of the dollar is worrisome and yes Bush didn't handle the economy all that well besides cutting taxes, especially capital gains.

You may disagree, but I think we will weather this alright in the end, and it will cause adjustments that will benefit us in the long run. One thing that came out recently is the possibility of high transportation costs leading to the reversal of shipping manufacturing jobs overseas. It may become more cost effective -- even taking into consideration cheap labor -- to make stuff here in the good ole USA again.

I don't doubt that we will weather this storm. But our deficit needs to drop in order to bring value back to that cheap American dollar. There's all sorts of blame being thrown around, but the culprit of inflation is the deficit and those who brought it as high as it's become. I think American voters know this as it's been reflected in congressional approval ratings.

I haven't seen OJ at 10.15 prices, mainly I think because I only shop at the Military Commisaries which are much cheaper. I do know that prices at grocery stores out in town are incredibly inflated. For instance, milk is around 3.50 a gallon on the military base, but over 6 dollars a gallon out in town.

I'm amazed. Here in GA, milk is going for about $5.50. But we still have a good job market so housing didn't take a bad hit. All in all, we're doing pretty well here.

Unless you own and have your home paid off, you'll be paying rent or a mortgage until you die. Point is, unless you die, you gotta pay somebody. Personally, I'd rather my payment be building my equity rather than some landlord's. When I said "a home you can afford", that means a house you can make payments such as insurance, taxes, repairs, mortgage payments. It also means you have the reserves to get past setbacks. PRETTY SIMPLE.

Dave Ramsey has a good formula: your house payment should be no more than 25% of the family take-home income, on a fifteen year mortgage. We've always gone by the 25% rule, but in the Washington area we had to do it on a thirty year mortgage, at first.